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Rules for Naming Binary Ionic Compounds Containing a Metal Ion With a Variable Charge. A binary ionic compound is composed of ions of two different elements - one of which is a metal, and the other a nonmetal. For example, iron(III) iodide, FeI3, is composed of iron ions, Fe3+ (elemental iron is a metal), and iodide ions, I- (elemental iodine is a nonmetal). Rule 1.
Potassium Iodide is an binary ionic compound formed from a metal and a non-metal. Potassium is an Alkali Metal in the first column of the periodic table. This means that potassium has 1 valence electron it readily gives away in order to seek the stability of the octet. This makes potassium a #K^(+1)# cation. Iodine is a Halogen in the 17th column or #p^5# group.